In this May 23, 2018 file photo, a $1 million apartment is seen in Denver, Colo.
The Denver apartment building is about to see a major upgrade in its security.
The apartment, which is owned by the Denver apartment complex, was recently sold to a developer, the Denver Post reported.
The $1,000-a-month condo sits on top of the Denver International Airport.
It is one of several Denver apartment complexes to have been sold in recent years to developers looking to build new apartments in a city facing a housing crunch.
In this June 14, 2018, file photo a $900,000 apartment is pictured in Denver.
(AP Photo/Brennan Linsley, File) The Denver building, which has a total of 9,000 units, has been on the market for more than two years and is in the final stages of getting an official appraisal, according to The Denver Post.
In a statement, the building’s developers said they were “grateful to be able to finally sell our beloved Denver apartment community for the very reasonable price of $1 billion.”
The apartments were bought by the development company in July 2016 and renovated by its management team.
The apartments are on the city’s west side, next to the airport and about a mile away from downtown.
The building was also renovated and expanded last year.
The development’s developer, S.B. Miller Real Estate Development, has plans to build a new $500 million apartment complex on the site.